Accounting Measurement, Reporting and Control
The key objective of the course is to learn the fundamental principles and methods of financial and managerial accounting so that students become more discerning consumers of accounting information and reports, both as external users and as managers within a firm. The course introduces concepts and methods of accounting, with an emphasis on uses of accounting information in making economic decisions, controlling organizations and holding organizations accountable to stakeholders. The course studies information that is:
- Measured, reported to and used by individuals and entities external to organizations - generically known as financial accounting.
- Measured, reported and used within organizations - generically known as managerial accounting.
Student will have an opportunity to examine transactions, events and practices that occur in the context of several functional areas - such as production, operations and marketing and study how accounting systems interact with them. Students will emerge from the course as financially literate individuals who can understand the linkages between accounting and other business disciplines.
Frontiers in Technology
This course enhances the classroom coursework through: seminars & professional development activities, corporate visits, and talks by researchers who work at the cutting edge of technology. Our students are able to glimpse new breakthroughs and discuss ideas and technologies that are expected to affect our lives in the near future through presentations that focus on real-world issues. You can learn more about the MS in Technology Management Program's Frontiers in Technology.
Introduction to Finance
This course provides an introduction to financial management and decision making for graduate students who do not necessarily have previous training in the disciplines – decisions pertaining to investments in projects as well as financing the operations. Topics covered include financial environment, valuation of securities, risk-return relationships, capital budgeting, financial analysis and planning, cost of capital and options.
The importance of innovation is at an all-time high. But managing innovation is different than “normal” management, as new markets and technologies pose distinctive challenges. This course aims to equip you to address those challenges. We start by examining how new technologies can transform industries and how firms can respond to such change. We explore how to overcome barriers to such change, and how firms can balance the tensions of developing new technologies and markets while operating in mature ones. We also consider innovation topics at the individual and group levels, such as managing creativity and product development teams. Finally, we look at innovation strategies that involve establishing links to other firms, through considering alliances, joint ventures and “open” innovation strategy.
Managing Intellectual Property
In this course on Managing Intellectual Property (MIP), we will study fundamental concepts and analyses, issues, practical strategies, and solutions from managerial, legal, economic, and public policy viewpoints, resulting in a complex and (most often) integrated perspective. This course is about how firms compete based on knowledge:
Knowledge embodied in products, services and productive process (e.g., a computer chip), and just knowledge (e.g., chip designs). Given recent changes in U.S. and many overseas IP regimes, firms are increasingly faced with decisions whether to manufacture novel products on which their IP is based, or simply license the IP to other manufacturers, or do both. One of the key aims of our MIP course is to understand why and how firms develop knowledge, commercialize it themselves in concrete products and services and/or convey it to others profitably. Their MIP strategy is a part of the firm's broader set of decisions shaping their long-term survival and performance prospects.
MIP is also about people: managers, lawyers and public policy makers. Where IP is concerned, all three people are important to the survival and success of firms competing based on knowledge. Managers take the strategic decisions about how much to invest in knowledge development-the research & development budget decision-and whether and how to commercialize knowledge.
Lawyers take important decisions about whether and how to appropriate firm knowledge, i.e., turn knowledge developed by the firm into the firm's property in the form of patents, copyrights, trademarks, and trade secrets. Lawyers are also central to understanding how firms vindicate their rights to such propertized knowledge: to sue or not to sue an infringer; to negotiate licensing agreements; and to assure compliance with laws and policies that define and maintain firm property rights over the appropriate period of time.
Public policy makers also matter critically to the success of firms competing based on knowledge. They are, for example, the patent examiners assessing the "novelty" and or "non-obviousness" of some invention for which a patent is now sought. They are judges deciding cases of patent, copyright or trademark infringement, trade secret misappropriation or unfair competition. The cases could enrich or deprive one or more litigating parties of hundreds of millions of dollars. They are non-governmental organizations ("NGOs") like the United Nations, the World Trade Organization or the World Health Organization seeking to influence the application of IP policy in the U.S. so that other goals like international IP trade or low-cost anti-viral drugs to combat AIDS and HIV in Sub-Saharan Africa might be expanded.
IP permits and requires exploration of these managerial, legal, economic, and policy perspectives. Providing these perspectives, presenting key concepts, analysis, practical strategy, policy solutions, and cultivating a broader view of how firms compete based on knowledge, these are the general aims of the MIP course.
The objectives for this course are as follows. First, learn terminology, institutions, and programs of modern marketing. Second, strategic analysis of marketing opportunities and communication of marketing decisions will be practiced in case analysis. Third, apply this Knowledge in an interactive marketing simulation for your final project. Fourth, this course prepares students to take advanced marketing courses.
New Product Development
The focus of New Product Development is on the integration of the marketing, strategy, design, and new product development functions of the firm in creating a new product. The course is intended to provide students with the following benefits:
- Understanding management processes and market research/forecasting methods firms can utilize for faster and more effective innovation development.
- Competence with a set of tools and methods for product design and development.
- Confidence in your own abilities to create a new products.
- Awareness of the role of multiple functions in creating a new product (e.g. marketing, finance, industrial design, engineering, production).
- Ability to coordinate multiple, interdisciplinary tasks in order to achieve a common objective.
- Reinforcement of specific knowledge from other courses through practice and reflection in an action-oriented project setting.
Many organizations and their managers today recognize that the critical sources of competitive advantage are not only having the most ingenious product design, the most brilliant marketing strategy, or the most state-of-the-art production technology, but also having an effective system for obtaining, mobilizing, and managing the organization's human assets – the design and management of effective organizations. A number of developments are making organizational design and its management increasingly salient for managers such as the changing characteristics of the labor force, the rapid pace of technological innovation, greater international competition, and greater attention to diverse customers.
The main objective of the course is to introduce the basic concepts, theories, and techniques necessary for understanding, designing, and managing organizations to achieve value creation. Instead of focusing purely on the individual employees, their motivation, or leadership, this course emphasizes the tasks of organizational units, their internal processes, and the overall design for effective functioning of organizations that can execute business strategies within an ever-changing context of the external environment. The course is organized around four fundamental questions about designing and managing organizations: How should firm strategies and business models be taken into account in designing organizations?; What are some of the basic issues and principles of designing the overall structure of the organization?; How should managers design performance measurement systems for managing their critical resources that can lead to successful implementation of their business strategies?; and, How can managers put all these elements together to make their organizations perform well and change in today's ever-changing business environment?
The management of processes involves insuring that the product or service is of high quality, choosing the appropriate design and technology for the production or service process, planning and controlling the flow of parts or customers so that lead times are reduced to minimal levels, and distributing the finished goods or services. Process Management requires decisions that range from how much material to order for making a product, to determining how much capacity is needed to provide a good level of service, to evaluating which technology will best meet a company's needs.
This course is a foundation for Supply Chain Management which looks at linkages across organizations. Project Management is a more specialized body of knowledge for a specific type of process. In marketing one answers the question “who” whereas in Process Management one is focused on the “How” question.
Project Management (PM)
This course aims to develop skills of students in Project Management, in a way that enables the students to:
- Initiate Projects,
- Control Projects, and
- Evaluate Project Success
So that involved students develop the acumen for the planning and control of projects in general. The planning and control of projects includes the definition, scheduling, and monitoring of activities in order to meet or exceed stakeholder expectations from a project. Stakeholder expectations from a project entail successful delivery on time, cost, quality and scope of the project. The course is real world focused and uses a mix of lectures, case discussions and applications (including PM software).
Simulation and Risk Analysis
This course is about using numbers to make better decisions. The focus will be on “hands-on” use of quantitative tools for solution of management problems involving risk and uncertainty.
Specific course objectives: (1) Introduce you to practical yet sophisticated tools suitable for modeling and solving complex managerial problems with risky outcomes, and (2) improve your skill and experience with the use of spreadsheet tools for analysis of management decision problems.
Topics include decision trees, compound decisions, value of information, simulation analysis, and probability assessment. Students will learn to mathematically model business decision problems and apply their analytical skills to realistic business contexts. The material covered is useful for executives in all professional areas of business, including but not limited to accounting, finance, marketing, information systems, operations management or any other area where it is important to combine quantitative analysis with expert intuitive judgment.
Statistics for Management Decision Making
Business decisions involve dealing with partial information in an uncertain environment. This course shall develop a foundation of probability and statistics and introduce data analysis tools that can generate information useful in decision making. The foundation laid by this course is also necessary for subsequent courses such as Financial Management, Process Management, Project Management, and Risk Simulation Analysis and for practical decision-making.
Supply Chain Management (SCM)
In this course, students explore how firms can better organize their operations to align their supply with the demand for their products and services. We analyze key tradeoffs and phenomena related to supply chains - from suppliers to distribution. The course develops analytical skills, state-of-the-art concepts and problem-solving tools, applicable to the design and planning of supply chains. Students cover issues of SCM in a wide variety of industries - groceries, automotives, services and humanitarian organizations. We discuss the impact of shifts from traditional channels to electronic markets and new initiatives that have been introduced to address these new challenges, such as Vendor Managed Inventory, Variety Postponement, Remanufacturing, Contracts, and Quick Response. The course is real world focused and uses a mix of lectures, case discussions and applications.
We believe that the men and women who successfully meet the rigors of the University of Illinois MS in Technology Management Program will be expected to be leaders in their business or organization when they return to work. Therefore, The Practicum class will help the students recognize their abilities and hone the leadership skills that each person possesses.
The Capstone course, Practicum integrates all of the knowledge accumulated by the student and capitalizes on his personal and professional experiences to make sound recommendations to our clients covering the myriad issues brought to us by the clients.You will get a chance to test yourself in The Practicum before we let you leave. You can learn more about the MS in Technology Management Program's Practicum.
The course on Technology Strategy deals with those decisions that determine future directions of the technology intensive organizations and effective implementation of the directions chosen. Technology Strategy will addresses the organizational structure, resources & capabilities, and strategic positioning of the firm to create, capture, and sustain competitive advantage in high technology industries. In this course, students will develop skills at understanding how firms gain and sustain competitive advantage, analyzing strategic business situations and formulating strategy, and implementing strategy and organizing the firm for strategic success. It includes not only some of the traditional elements of strategic management such as industry analysis, competitor analysis, generic strategies, and diversification, but also subjects that are directly relevant for technology intensive organizations such as sources of innovation, types and patterns of innovation, standards battles, timing of entry, collaboration strategies, and protecting innovation.
Key skills and concepts: In Technology Strategy, we learn to take the perspective of top management. Whether you are going to be a CEO or just want to be able to convince the CEO to adopt your ideas, it helps to speak the language of strategy. We briefly cover some core concepts: industry analysis, competitor analysis, generic strategies, resource analysis, and diversification.
In other courses, you learn how to create tools such as accounting statements, marketing research, risk analysis, financial planning, project management, and supply chain analysis. However, having the best accountants or marketing staff will not create superior profits if their advice leads you to the same exact activities as your competitor. In Technology Strategy, we employ case studies to practice using information from these tools. Our goals are to reconcile conflicting information, develop feasible alternatives, and evaluate them in an objective manner.
All cases, lectures, and discussions focus on technology-intensive organizations. We learn about sources of innovation, types and patterns of innovation, standards battles, and entry timing. We also discuss how to interact with other firms inside or outside your industry as competitors or collaborators (and sometimes both).
The case discussions and interactive class format create an opportunity to develop your skills at communicating these high-level ideas verbally and on-the-spot. Assignments follow the format of written business communication: professional, brief, and persuasive reports